Wockhardt Ltd said on Tuesday it has got US Food and Drug Administration's approval to market painkiller tablets containing a combination of Dextropropoxyphene napsylate and Acetaminophen in the US market.
Pharma major Wockhardt on Thursday said it had acquired French pharmaceutical group Negma Laboratories for Rs 1,090.52 crore ($265 million) in cash -- a deal that would give it access to the European market.
The company has already received approval from the US Food & Drug Administration for marketing clarithromycin tablets.
The company had posted a consolidated net profit of Rs 323.31 crore (Rs 3.23 billion) in the same period last fiscal, Wockhardt Ltd said in a filing to the Bombay Stock Exchange.
Pfizer, the world's largest pharmaceutical company, has filed patent infringement suits against Sun Pharma, Wockhardt Ltd and Lupin Ltd to prevent these companies from securing marketing approvals for the generic equivalents of its high-selling neuropathic pain management drug Lyrica in the United States.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
Wockhardt Ltd said on Wednesday it has completed acquisition of France-based Negma Laboratories for $265 million.
Only 11 antibiotics in clinical trials have received qualified infectious disease product status from the US FDA, of which five are Wockhardt's drugs.
The company, which follows the calendar year for its accounting purposes, expects that a large part of this turnover -- just under Rs 1,400 crore -- would come from acquired companies.
Pharma major Wockhardt Ltd has posted a 13.3 per cent increase in net profit at Rs 34.9 crore (Rs 349 million) for the second quarter ended June 30, 2003 as against Rs 30.8 crore (Rs 308 million) for the corresponding quarter last fiscal.
The company had posted a net profit of Rs 213 crore (Rs 2.13 billion) in the same period of previous fiscal.
The Wockhardt Group plans to invest Rs 400-500 crore to establish new super speciality hospitals in Delhi, Mumbai, Kolkata and Bangalore in the next three years, a top official of the group said on Saturday.
Consolidated net sales of the company stood at Rs 1,485.50 crore (Rs 14.85 billion) for the quarter under consideration as against Rs 1,175.60 crore (Rs 11.75 billion) for the same period a year ago.
On Wednesday, September 28, on the eve of World Heart Day on September 29, Wockhardt Hospital Mumbai Central engaged with BEST -- Mumbai's public bus transport undertaking -- to create awareness of heart diseases by teaching CPR to 100 plus BEST staffers.
Wockhardt Hospitals has reduced the price band of its upcoming IPO, following the volatility of the stock market.
Wockhardt on Tuesday reported a 6 per cent decline in consolidated net profit at Rs 41.70 crore (Rs 417 million) for the first quarter ended March 31, 2005 as against Rs 44.40 crore (Rs 444 million) in Q1 FY04.
The board outside St Michael's Church at Mahim in north central Mumbai often has messages that bring a smile to the faces of drivers and passengers hurrying in thick traffic outside the church which draws worshippers from all faiths to its novena every Wednesday.
Apart from favipiravir and remdesivir, its key Covid-19 products, DRL has already launched nutraceutical products and hand sanitisers during the pandemic.
CEO of Wockhardt Hospital Mumbai, Dr Parag Rindhani, who is a microbiologist, said: "In the past three months, we have seen several cases of COVID-19 and now, fortunately, we are seeing a decrease in numbers. With this trend, we can expect a flattening of the curve by mid-July, which BMC commissioner has also said, and the normalcy of life can be expected by the beginning of August."
Home healthcare remains a niche segment in India even today. Nightingale provides services, starting from family physicians, short- and long-term nursing care, post-hospitalisation care and physiotherapy to stroke rehabilitation, respiratory care, bedside caregivers and attendants, intensive care at home, lab tests and speech therapy.
Dr Reddy's, Glenmark, Wockhardt have lined up alternatives for Zytiga
Indian businesses' weak ability to compete overseas says much about the infirmities imposed by the intensity of government dominance of economic policy and the nature of this dominance, observes Kanika Datta.
A tea seller was suspected to have contracted COVID-19 near a government guest house, located near Matoshree, the private residence of Maharashtra Chief Minister Uddhav Thackeray.
The UK's National Health Service was already lining up thousands of medics and volunteers to be ready to deliver jabs up and down the country.
'15, 17 years back we were not even in existence in the US. Today nearly 1/3 of prescriptions written comes from India.' 'India is showing that in a very competitive environment -- like the US and Europe -- our industry is doing very well.'
'In any business you have to achieve short-term goals.' 'But at the same time you have to keep your broader perspective long term.' 'It is good for business survival.'
We were aggressively expanding and investing heavily in various new hospital projects. But the global meltdown and crash of the markets put a lot of financial strain on us, says Habil Khorakiwala.
Habil Khorakiwala, chairman of pharma major Wockhardt, is on a well-deserved holiday abroad.
The blaze erupted around 7 am in Kamla building located opposite Gandhi Hospital at Gowalia Tank, the official of the Brihanmumbai Municipal Corporation (BMC) said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Indian companies are increasingly investing in research and looking at ways they can leverage their India advantage,'Wockhardt Chairman Habil Khorakiwala tells Priya Ganapati.
The Delhi high court had earlier allowed Indian pharma major Wockhardt to sell its Ace Proxyvon tablets, which is a mixture of three salts -- aceclofenac, paracetamol and rabeprazol -- a combination that is banned.
Move comes within months of acquiring Wockhardt hospitals. Fortis Healthcare, a hospital chain promoted by former Ranbaxy owners Malvinder Mohan Singh and Shivinder Mohan Singh, is close to a major acquisition overseas
DCGI, health ministry initiate dialogues with foreign regulators, try to understand global best practices
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
'There are different kinds of risk.' 'It is a very powerful value. Your ability to de-risk the risk is also as important for risk taking.'
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